Micron Technology has announced plans to invest up to $3 billion to expand the semiconductor manufacturing ecosystem in Sherman, Texas, through strategic financing for GlobalWafers America's 300mm raw silicon wafer manufacturing facility.

The company, which manufactures memory and storage solutions, will invest up to $3 billion as part of its U.S. semiconductor supply chain strategy, including $500 million in strategic financing support for GlobalWafers America. The press release did not disclose how many new jobs will be created.

Micron will provide $500 million in strategic financing to support the development and manufacturing capabilities of GlobalWafers America's 300mm raw silicon wafer manufacturing facility in Sherman. The companies will also enter into a 10-year supply agreement that will provide Micron with access to significant raw silicon wafer capacity to support its long-term manufacturing plans.

The facility will manufacture 300mm raw silicon wafers used in semiconductor production. According to the press release, GlobalWafers is capable of producing advanced 300mm wafers in the United States. In addition to expanding manufacturing capacity, Micron and GlobalWafers intend to explore collaboration on next-generation wafer technologies and process innovations to support future semiconductor manufacturing requirements.

The proposed transaction remains subject to definitive agreements, customary approvals and closing conditions.

What people are saying

In a recent quote, Ben Tessone, Senior Vice President and Chief Procurement Officer, Micron Technology, said, "Securing a reliable supply of critical input materials is essential to supporting Micron’s long-term growth and technology roadmap. Micron’s strategic investment in the U.S. semiconductor ecosystem and GlobalWafers' raw silicon wafer manufacturing facility reflects our commitment to strengthening supply assurance, deepening collaboration with key suppliers, and supporting the expansion of the semiconductor supply chain and manufacturing infrastructure in the United States. Together, these efforts help build a more resilient supply chain that can support future innovation and growing demand for advanced memory solutions."

“Micron’s pledge of $3 billion to strengthen the U.S. semiconductor supply chain and expand domestic manufacturing capabilities is making the United States stronger in a sector that is vital to our economy and our technological leadership,” said Commerce Secretary Howard Lutnick. “When great companies invest in America, build in America, and bet on American workers, we create the conditions for our country and companies to succeed.”

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